Truist Financial Corp Reduces Position in The Gabelli Equity Trust Inc. (NYSE:GAB)

Truist Financial Corp lessened its holdings in shares of The Gabelli Equity Trust Inc. (NYSE:GAB) by 40.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,755 shares of the financial services provider’s stock after selling 14,191 shares during the period. Truist Financial Corp’s holdings in The Gabelli Equity Trust were worth $112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new position in shares of The Gabelli Equity Trust during the fourth quarter valued at approximately $2,925,000. Accel Wealth Management boosted its position in shares of The Gabelli Equity Trust by 6.1% during the fourth quarter. Accel Wealth Management now owns 346,036 shares of the financial services provider’s stock valued at $1,862,000 after buying an additional 19,990 shares during the period. Advisors Asset Management Inc. boosted its position in shares of The Gabelli Equity Trust by 6.1% during the third quarter. Advisors Asset Management Inc. now owns 212,791 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 12,220 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of The Gabelli Equity Trust by 3.0% during the third quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock valued at $896,000 after buying an additional 4,703 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of The Gabelli Equity Trust by 77.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after buying an additional 67,889 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Stock Performance

Shares of NYSE:GAB opened at $5.60 on Friday. The Gabelli Equity Trust Inc. has a 1 year low of $5.09 and a 1 year high of $5.85. The business has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $5.52.

The Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.72%.

The Gabelli Equity Trust Company Profile

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.